In relatively smaller trucks and larger sized passenger vehicles including vans, it is common to use a carrier bearing situated along the drive shaft to support and interconnect two separate portions of the drive shaft. The drive shaft is comprised of two separate portions to reduce vibrations that would result if only a single relatively long drive shaft were employed. The carrier bearing then is positioned to receive one end of the first drive shaft portion and one end of the second drive shaft portion to interconnect the two together. However, the carrier bearings presently in use have suffered from the problem of relatively rapid wear. As a consequence, the carrier bearing must be replaced during the life of the vehicle. A primary cause of wear in the carrier bearing is the inability to provide proper and sufficient lubrication to the bearings. In carrier bearing assemblies prior to the present invention, no mechanism was provided to permit lubrication thereof. The present invention overcomes this deficiency to permit ready access to the bearings for lubrication thereof. In so doing, the present invention provides a housing configuration for securely containing the bearings yet allowing for lubrication.